Intrust Bank NA Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Intrust Bank NA reduced its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,245 shares of the industrial products company’s stock after selling 465 shares during the quarter. Intrust Bank NA’s holdings in Avery Dennison were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Avery Dennison by 3.6% in the third quarter. Bridgewater Associates LP now owns 16,438 shares of the industrial products company’s stock worth $3,629,000 after acquiring an additional 572 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Avery Dennison by 3.6% in the third quarter. Glenmede Trust Co. NA now owns 8,523 shares of the industrial products company’s stock valued at $1,882,000 after acquiring an additional 297 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Avery Dennison by 34.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,128 shares of the industrial products company’s stock valued at $5,326,000 after acquiring an additional 6,150 shares during the last quarter. Finally, Fiduciary Trust Co increased its position in Avery Dennison by 26.3% during the 3rd quarter. Fiduciary Trust Co now owns 3,219 shares of the industrial products company’s stock worth $711,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Bank of America reduced their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. Finally, UBS Group reduced their target price on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.51.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $175.64 on Monday. The firm has a market capitalization of $13.87 billion, a PE ratio of 20.14, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 12 month low of $173.02 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The business has a 50-day moving average of $183.29 and a two-hundred day moving average of $196.43.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.00%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company’s stock, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.84% of the stock is owned by insiders.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.